Here is the income statement for Skysong, Inc. Net sales Cost of goods sold Gross profit Expenses (including $14,000 interest and $25,200 income taxes) Net income Additional information: 1. 2. 3. SKYSONG, INC. Income Statement For the Year Ended December 31, 2022 (a) (c) (d) Compute the following measures for 2022. (Round earnings per share to 2 decimal places, eg. 1.83 and all answers to 1 decimal places, e.g. 1.8 or 2.5%) (b) Price-earnings ratio Earnings per share Common stock outstanding January 1, 2022, was 26,700 shares, and 36,500 shar The market price of Skysong stock was $15 on December 31, 2022. Cash dividends of $21,300 were declared and paid. Payout ratio Times interest earned $ 3.97 3.78 $438,400 217,900 12.60 12.16 220,500 89,500 $ 131,000 times % times
Here is the income statement for Skysong, Inc. Net sales Cost of goods sold Gross profit Expenses (including $14,000 interest and $25,200 income taxes) Net income Additional information: 1. 2. 3. SKYSONG, INC. Income Statement For the Year Ended December 31, 2022 (a) (c) (d) Compute the following measures for 2022. (Round earnings per share to 2 decimal places, eg. 1.83 and all answers to 1 decimal places, e.g. 1.8 or 2.5%) (b) Price-earnings ratio Earnings per share Common stock outstanding January 1, 2022, was 26,700 shares, and 36,500 shar The market price of Skysong stock was $15 on December 31, 2022. Cash dividends of $21,300 were declared and paid. Payout ratio Times interest earned $ 3.97 3.78 $438,400 217,900 12.60 12.16 220,500 89,500 $ 131,000 times % times
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Here is the income statement for Skysong, Inc.
Net sales
Cost of goods sold
Gross profit
Expenses (including $14,000 interest and $25,200 income taxes)
Net income
Additional information:
1.
2.
3.
(a)
SKYSONG, INC.
Income Statement
For the Year Ended December 31, 2022
(b)
(c)
(d)
Compute the following measures for 2022. (Round earnings per share to 2 decimal places,
e.g. 1.83 and all answers to 1 decimal places, e.g. 1.8 or 2.5%)
Earnings per share
Price-earnings ratio
Common stock outstanding January 1, 2022, was 26.700 shares, and 36,500 shar
The market price of Skysong stock was $15 on December 31, 2022.
Cash dividends of $21,300 were declared and paid.
Payout ratio
Times interest earned
3.97
3.78
$438,400
217,900
12.60
12.16
220,500
89,500
$ 131,000
%
times
times](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feba0994c-640e-4b02-95de-f448cb9caf24%2F420ad70d-ee41-4b89-9eab-b40052e75ac9%2F5m0t2z4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Here is the income statement for Skysong, Inc.
Net sales
Cost of goods sold
Gross profit
Expenses (including $14,000 interest and $25,200 income taxes)
Net income
Additional information:
1.
2.
3.
(a)
SKYSONG, INC.
Income Statement
For the Year Ended December 31, 2022
(b)
(c)
(d)
Compute the following measures for 2022. (Round earnings per share to 2 decimal places,
e.g. 1.83 and all answers to 1 decimal places, e.g. 1.8 or 2.5%)
Earnings per share
Price-earnings ratio
Common stock outstanding January 1, 2022, was 26.700 shares, and 36,500 shar
The market price of Skysong stock was $15 on December 31, 2022.
Cash dividends of $21,300 were declared and paid.
Payout ratio
Times interest earned
3.97
3.78
$438,400
217,900
12.60
12.16
220,500
89,500
$ 131,000
%
times
times
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